The Goldman Sachs Group Begins Coverage on Alarm.com (NASDAQ:ALRM)

Equities research analysts at The Goldman Sachs Group assumed coverage on shares of Alarm.com (NASDAQ:ALRM) in a report issued on Friday, Briefing.com reports. The firm set a “neutral” rating and a $64.00 price target on the software maker’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 10.57% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. William Blair upgraded shares of Alarm.com to a “hold” rating in a report on Thursday, May 9th. StockNews.com downgraded shares of Alarm.com from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays decreased their price target on shares of Alarm.com from $78.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $69.00.

Alarm.com Stock Performance

NASDAQ ALRM opened at $57.88 on Friday. The company has a current ratio of 9.25, a quick ratio of 8.70 and a debt-to-equity ratio of 1.52. The firm’s fifty day moving average price is $63.73 and its two-hundred day moving average price is $66.77. Alarm.com has a 1 year low of $49.70 and a 1 year high of $77.29. The firm has a market capitalization of $2.90 billion, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 3.59 and a beta of 0.92.

Alarm.com (NASDAQ:ALRM) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.09. Alarm.com had a net margin of 11.92% and a return on equity of 13.00%. The firm had revenue of $233.80 million for the quarter, compared to analyst estimates of $227.35 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Alarm.com will post 1.4 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Steve Valenzuela sold 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total value of $445,998.00. Following the sale, the chief financial officer now directly owns 37,500 shares in the company, valued at approximately $2,260,125. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Steve Valenzuela sold 7,400 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $60.27, for a total transaction of $445,998.00. Following the sale, the chief financial officer now owns 37,500 shares in the company, valued at approximately $2,260,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Ramos sold 9,476 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $61.81, for a total value of $585,711.56. Following the completion of the transaction, the insider now owns 41,100 shares of the company’s stock, valued at $2,540,391. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Alarm.com

A number of hedge funds have recently modified their holdings of ALRM. Norges Bank bought a new position in Alarm.com during the 4th quarter worth $33,277,000. Bank of Montreal Can increased its stake in shares of Alarm.com by 2,394.6% in the second quarter. Bank of Montreal Can now owns 273,730 shares of the software maker’s stock valued at $17,406,000 after buying an additional 262,757 shares during the period. Disciplined Growth Investors Inc. MN raised its position in shares of Alarm.com by 6.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,710,998 shares of the software maker’s stock worth $172,257,000 after acquiring an additional 158,465 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Alarm.com by 1,729.4% in the second quarter. Federated Hermes Inc. now owns 118,231 shares of the software maker’s stock worth $7,512,000 after acquiring an additional 111,768 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Alarm.com by 1,027.6% in the second quarter. Cubist Systematic Strategies LLC now owns 117,076 shares of the software maker’s stock worth $7,439,000 after acquiring an additional 106,693 shares during the period. Institutional investors and hedge funds own 91.74% of the company’s stock.

Alarm.com Company Profile

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.